Rhumbline Advisers boosted its stake in shares of Moelis & Co (NYSE:MC) by 13.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,832 shares of the asset manager’s stock after buying an additional 3,611 shares during the quarter. Rhumbline Advisers owned approximately 0.06% of Moelis & Co worth $1,284,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Old Mutual Global Investors UK Ltd. bought a new position in Moelis & Co during the second quarter worth about $875,000. Principal Financial Group Inc. boosted its position in Moelis & Co by 76.7% during the second quarter. Principal Financial Group Inc. now owns 492,290 shares of the asset manager’s stock worth $19,125,000 after purchasing an additional 213,740 shares during the period. Goldman Sachs Group Inc. boosted its position in Moelis & Co by 79.0% during the second quarter. Goldman Sachs Group Inc. now owns 244,143 shares of the asset manager’s stock worth $9,485,000 after purchasing an additional 107,719 shares during the period. Cavalier Investments LLC bought a new position in Moelis & Co during the third quarter worth about $956,000. Finally, Wells Fargo & Company MN boosted its position in Moelis & Co by 34.2% during the second quarter. Wells Fargo & Company MN now owns 78,204 shares of the asset manager’s stock worth $3,038,000 after purchasing an additional 19,934 shares during the period. Institutional investors own 56.81% of the company’s stock.
A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Moelis & Co from a “buy” rating to a “hold” rating in a research report on Wednesday. UBS increased their price target on shares of Moelis & Co from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, October 26th. JMP Securities increased their price target on shares of Moelis & Co from $44.00 to $47.00 and gave the stock a “market outperform” rating in a report on Thursday, October 26th. Finally, Morgan Stanley increased their price target on shares of Moelis & Co from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Moelis & Co currently has an average rating of “Buy” and a consensus price target of $45.00.
Moelis & Co (NYSE:MC) last announced its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.15. Moelis & Co had a net margin of 9.62% and a return on equity of 52.76%. The firm had revenue of $170.00 million for the quarter, compared to the consensus estimate of $168.51 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. analysts expect that Moelis & Co will post 2.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, November 6th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, November 3rd. Moelis & Co’s payout ratio is 70.81%.
In related news, CEO Kenneth Moelis sold 9,500 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $42.41, for a total value of $402,895.00. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 80,956 shares of company stock worth $3,451,515. Insiders own 52.64% of the company’s stock.
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About Moelis & Co
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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